NSW Newcastle NSW is absolutely booming

Will Amazon start selling real estate?

 

This is awesome...I for one voted to bring back feudalism back in...unfortunately the socialists crushed that idea.

 

That is highly likely, the cleaners on the street and the bus drivers and taxi drivers are getting in with their life savings and spruiking bitcoin to all their relatives. I heard it with my own ears today. That means its close. Its a bigger ponzi scheme then housing. It will run out of steam when the economy runs out of ******s who will buy bitcoin at these stupid prices for something with no real value. I mean lets face reality. Australia is full of super indebted people, selling coffee and housing to each other, driving up prices while banks feed them endless money to be indebted with, they mow each others lawns, while their governments have sold off every asset the people used to own and have given away for super cheap or free all the food, mineral, gas and metal and monetary wealth, to a couple of mining companies,banks and food distribution monopolies. Basically over the last 20 years the productive capital of Australia has not gone into innovation, invention, technology, research and education, it has gone into the unproductive asset of housing, or building stadiums or such things, that produce nothing over the longer term. 30 years later all you have is a country that has kangaroos skipping on the roads and your neigbours are super advanced. Australia has no tech industry, software industry, no computer or robotics companies, no electric cars, no googles, no nothing. By directing the wealth of the nation into housing its become a big backwater that will or should say has already been taken over by foreign powers who keep a puppet goverment in power so that the Australians dont see the truth. The government knows this so they continually obfuscate in the media with issues and pass the buck along. Capitalist totalitarianism is complete in Australia and nobody is fighting to get the country back into the well balanced centre of economic and social balance except me. Yes bitcoin will go belly up sooner due to a smaller pool of ******s getting in now. Housing will take longer, there are many more ******s fueling that market and not knowing a thing about what is a productive asset. It amazes me how many people actually believe that housing is a productive asset. Nor do they understand how to really build wealth in real estate that will withstand every economic shock. Dont come crying to me in a few years time when I buy your previously valued 1.8 million dollar house for $750000 cash and kick the real estate agent out the door and thank you for renovating the place for me. I will point out to you the obvious then , that which you will not see now.

Consider that the smartest investor that has ever lived, Warren Buffet, has never invested in housing beyond buying a house he can live in. Consider that. A house people, is a utility, if you want to become a landlord then your business must be that of a landlord, buying an asset that makes money from the income and the capital gain is just a hedge against cpi inflation. Because one thing that is certain, house prices over the long term will never grow more than the long term average bank interest rate over the long term and that inflation, cant be more than a couple percent per year over the long term. Because economics cannot from nothing produce a return. At its fundamental the money that a bank lends you comes from profits on interest that were generated without the toil of a human transforming a material resource, this means that this money is not covered by any material asset.If you have used this money to buy a secondhand house that has been paid for several times over and instead of paying less for it because it should have depreciated, it has appreciated then you are part of the stupidity. Its real value is what somebody is able to pay for it in cash. Stick that into your heads. In other words what is the median cash held by a median person and what is the median house price? If money needs to be borrowed to buy a house you are living in the la la land of living beyond your means. When you deeply grasp this truth you will know how to make money. You will understand the genius of Warren Buffet. The real value of houses in Australia are what the average Australian collectively can pay for the average house in CASH that is theirs not the banks. The fact that the debt is so huge that the cash value is so low because no one has cash should not confuse you. At best think of how much a house would cost if banks were never legal and you had to pay for your house by saving your salary. That is the real value of a house in Australia. The banks spend billions every year paying for a massive propaganda campaign to make you forget that. Hundreds of adverts everyday, funding movies, shows and documentaries and music and artists to switch your brain off.

Warren Buffet knows that when he buys a stock, he is buying a piece of paper that in reality is exactly worth nothing, yet he still doesn't buy housing where there is a tangible material component to the asset. Think until you understand the paradox.

 

Says the person who is hanging out on a property forum page. LOL

 

That is because I am and have been a proffesional landlord to many, many a tenant. I learnt the perfection of the art form from a highly intelligent Israeli landlord who was loved and respected by his tenants and knew what a property asset is. In the art world you have paintings of self justifying content painted by famous artists and which if bought at the right time and price will never loose their value. Then you have 95% of all other art, worthless garbage really. So it is with homes 80% of homes in Australia is worthless garbage. I dont deal in that 80% junk space.

 

Wax on, wax off

 

And, just curious, are you a Berkshire shareholder?

 

I will be after the next stock market crash expected soon. I will be mass selling nearly all my properties over the next year's and moving away from this garbage of dealing with tenants and the govt.

 

And anyway as far as boots on the ground in Newcastle there has been no real slow down in price rises. My mate sold a townhouse 2 weeks ago near Newcastle beaches and got 60k more than agent expected.

People still drinking the magic Kool aid and smoking the choof and not considering their retirement and buying unmanageable debt. People still believe prices are only going up and won't drop in Newcastle. They still believe that the system of funding your own retirement through multiple property purchases applies but don't understand that capital growth times are finished for at least 15 years in Sydney and Newcastle.

 

That's highly disturbing, considering that much of the bit coins are being held by just a few and the prices are likely to be manipulated by rich and powerful. When some of them collectively decides to cash in, it will likely to trigger a massive collapse.

 

I don't think that's true, he has been in invested in companies that are in the real estate business as of lately. Consider that direct operation has never been his cup of tea so I would consider that he does believe in realestate when the time is right.

 

Sounds like a miniature version of the real economy then...

 

Don't forget this is your opinion.

Only your opinion. If you were Harry Trigaboff your opinion would also carry that much more weight.
IN respect Sydney and 15 year claim. The history is against you.

 

Spoke with a Newcastle REA early this week. Nearly 50 opens and zero offers. In his words "a little concerning".

Make of it what you will.

 

Whereabouts? I still see quite a few activities in Lake Maq and actually we missed out on a couple of properties - thinking to upgrade ppor- but resisting not to pay top $$

 

Mayfield and surrounds. I'm not from around there (lived in Newcastle briefly years ago), was surprised given the feedback of local friends.

Might just be the time of year, might not.

 

Sub 700k is still moving nicely, majority of the interest is coming from first home buyers and upsizer ATM they seem be the main buyers. Defiantly a slow down with investors, Maryville has defiantly come off the boil 12 months ago literally everything would sell first week. Mayfield is still in high demand as it's still 150k to 200k below similar property in Maryville / Tighes hill.

We are still lucky to get more than one registration at an auction, generally this time of year we do lose a fair amount of buyers so any vendors wanting to sell we are advising to put on the market mid Jan with a feb Auction.

This sold last month for above 4m last month. 28 Charlotte Street, Merewether, NSW 2291 - Property Details

 

50 groups through or 50 open houses? That's a lot of houses I reckon that would make up nearly everything listing in Newcastle + Lake Macquarie.

If the agent has had 50 groups through and no offers, he's either not physically present or the home is massively over priced.

 

20 odd opens and 20 odd private viewings over last weekend. Only passing on information so could be agent skill etc

 

Yeah just curious was he Newcastle based as he would have to have some skills to have that many listing, the majority of the homes are still selling within 30 days if priced well.[/QUOTE]